Interview with Craig English (international sales director)
1. What trends are you seeing in the adoption of cryptocurrency in luxury markets?
As the price of bitcoin continues to remain near all time highs people are taking their gains and using them to purchase yachts, jets, high end autos and real estate. We are not only seeing more transaction volume we are also seeing a trend of cryptocurrency being used to purchase down market. For example smaller, lower cost yachts being purchased with cryptocurrencies than even a year ago.
2. How does Bitcashier tailor its services to high-end goods and services retailers?
Bitcashier is set up to support higher value transactions with more personalized service. We have knowledgeable individuals located all around the world to provide time zone specific support. Most team members understand the purchase processes for luxury goods to help guide both the buyer and the seller for a smooth transaction.
3. Can you share a success story of a client integration that you find particularly compelling?
During an introductory conversation with a yacht broker, I learned they were about to lose a deal because the buyer wanted to pay with cryptocurrency, and they were not set up to accept that form of payment. We were able to onboard the yacht broker quickly and enable the transaction for them. This was a significant deal the broker otherwise would have lost.
4. What are the unique selling points of Bitcashier that you emphasize in sales pitches?
While there are other companies in the market that provide a similar service to Bitcashier, we different from them with our service and flexibility. Bitcashier provides a more personalized service geared toward high value transactions with high and ultra high net worth clients. We also have more flexibility with the cryptocurrencies we accept and the fiat currencies we can settle in.
5. How do you approach establishing partnerships and collaborations in new markets?
There is a correlation between the markets within the luxury goods space. For example, the same individual who is purchasing a large expensive yacht is also purchasing or chartering a jet. I have been involved in transactions where it was the same individual purchasing a yacht and paying for a charter jet service via two different companies with cryptocurrency.
6. What strategies do you use to educate potential clients about cryptocurrency transactions?
Our track record of success and experience often provides a comfort level for prospects who are considering cryptocurrency as a payment type. One of the benefits of our solution is that you don’t have to be knowledgeable about cryptocurrency. We allow clients to focus on their business and we handle the cryptocurrency portion for them.
7. How has the perception of cryptocurrency payments changed among your clients?
It is interesting to watch a company who was tentative about accepting cryptocurrency as a form of payment become positive about it once they see how safe and easy it is to accept via our solution.
8. What are the main concerns of clients new to cryptocurrency, and how do you address them?
Price volatility is almost always a concern for people who are not familiar with how our service works. Bitcashier takes on the risk of price volatility, its part of the value proposition of our cryptocurrency payment processing service.
9. What role do international events play in your sales strategy?
The luxury goods space is truly an international business especially when it comes to yachts, jets and high-end autos. As a regulated money movement business, we are required to follow certain guidelines this often means there are countries or regions where we are not allowed to facilitate transactions. International events often play a major role in who we can work with.
10. Looking forward, what are the major growth areas for Bitcashier in the global market?
Today the percentage of transactions where cryptocurrency is used as a form of payment is still very low so there is significant room for growth everywhere. There are also parts of the world that are becoming more crypto friendly which will naturally see more cryptocurrency activity for purchases, investments and innovation.
